Recent Plan News
IDeal program announces reduced costs for account owners
IDeal account owners will enjoy a cost reduction that will result in a total savings of almost $1 million. The savings comes from a reduction of IDeal’s program fees from 0.49% to 0.36% on all accounts. This cost reduction is the seventh since the program started in 2021 and has resulted in an overall reduction of 60% from inception. The newest cost reduction is effective starting in December.
Illinois State Treasurer Frerichs announces fee reductions for college savers
Illinois State Treasurer Michael Frerichs today announced another program management fee reduction for all Bright Start 529 college savers – the third reduction in five years.Effective July 3, 2021, Bright Start dropped its program management fee – the fee charged by Union Bank & Trust, the program manager for Bright Start – from 0.075% to 0.07%, a reduction that will save college savers a combined $500,000 every year.
State Street announces appointment by my529 to provide range of investment servicing solutions
State Street Corporation (NYSE:STT) today announced that it has been appointed by my529 to provide a variety of investment servicing solutions to help streamline my529’s investment operations. my529, Utah’s official nonprofit 529 educational savings plan, is a direct-sold 529 college savings plan available to residents of any state and currently has over $20 billion in assets under management.